Treasury recommended strategies to prevent "de-risking" - the "practice of financial institutions terminating or restricting business relationships indiscriminately with broad categories of clients, rather than analyzing and managing the risk of clients in a targeted manner."
News & Insights
FinCEN warned financial institutions of a recent surge in check fraud schemes targeting the U.S. mail system and urged financial institutions to report any suspected mail theft-related check fraud.
House Financial Services Committee Chair Patrick McHenry and a Republican colleague submitted a comment letter criticizing FinCEN's recently proposed beneficial ownership rule.
FinCEN proposed new regulations on access and safeguards to beneficial ownership information under the Corporate Transparency Act.
Senator Elizabeth Warren (D-MA) and Senator Roger Marshall (R-KS) introduced the Digital Asset Anti-Money Laundering Act, which would expand the scope of BSA regulations to subject digital assets to the AML/CFT framework governing financial institutions.